Warburg-Backed Red Star Raises US$931 Million in Hong Kong IPO
Friday, June 19, 2015
(WSJ by Prudence Ho and Yvonne Lee) – Chinese home-improvement mall operator Red Star Macalline Group Corp., backed by private-equity firm Warburg Pincus, has raised US$931 million in an initial public offering in Hong Kong.
The offering continues Hong Kong’s strong run as an IPO venue thanks to a stock-market boom. So far this year, Hong Kong ranks second globally as a venue for IPOs by value, behind Shanghai and ahead of New York, according to data from Dealogic.
